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Arden Group Acquires Industrial Property In Tampa For $31.8M

Property Image
SOLD
$31,800,000
Peter Cecora
John Dunphy
+ 1

Florida

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Industrial334,000 SF
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Property Image
SOLD

Arden Group Acquires Industrial Property In Tampa For $31.8M

Breckenridge Parkway

See Similar Deals
Industrial334,000 SF
Peter Cecora
John Dunphy
+ 1
Contact now

Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$95
Total Square Footage:334,000 SF
Transaction Type:Sale

Arden Group, led by Craig A. Spencer and Avistone, has acquired an industrial property located at 5402-5460 Breckenridge Parkway in Tampa. The property spans 334,000 square feet and was sold for a price of $31,800,000, resulting in a price per square foot of $95.

Summary of transaction details:

The deal was facilitated by JLL brokers Bret Felberg, Jeff Morris, John Dunphy, and Peter Cecora. The involvement of these brokers showcases their expertise in the Tampa market and their ability to successfully negotiate and close significant transactions.

Players

Jeff Morris
4 deals$104.3M volume(407) 362-6165
BROKER

John Dunphy
JLL
6 deals$66.1M volume
BROKER

Peter Cecora
JLL
5 deals$66.1M volume
BROKER

Bret Felberg
Colliers
4 deals$104.3M volume
BROKER

Arden Group
BUYER


Details

SOLD
IMAGE: Bret Felberg, Jeff Morris, Craig A. Spencer, John Dunphy, & Peter Cecora DATE: 10/15/2020 ADDRESS: 5402-5460 Breckenridge Parkway MARKET: Tampa ASSET TYPE: Industrial BUYER: Arden Group – Craig A. Spencer & Avistone BROKERS: Bret Felberg, Jeff Morris, John Dunphy & Peter Cecora – JLL PRICE: $31,800,000 SF: 334,000 ~ PPSF: $95

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,696,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$112,978.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$150,748.22
Annual Debt Service$1,808,978.68